15th Jul 2024 19:11
Aura Energy Ltd - Melbourne, Australia-based mineral exploration company with projects in Mauritania, Sweden and Western Australia - Receives last permit from Mauritanian government to develop and operate its Tiris uranium project. Company says permit brings the project closer to a final investment decision expected by first quarter 2025. The project will have no limits on production which may offer upside for the current expected rate of 2 million pounds per annum of uranium trioxide. Last month the company announced of 91.3 million pounds uranium trioxide present at the site, up 55% from 58.9 million pounds initially estimated. Tiris has a net present value of USD388 million discounted at 8% and a 36% after tax internal rate of return.
Further, the Mauritanian government has formed a committee to facilitate the development of Tiris.
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By Aidan Lane, Alliance News reporter
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